Friday, October 05, 2007

Gold Closes $3.40 Higher Today...........

Today's Gold market was extremely volatile and traded a $17.70 point range.
The early portion of the session was reaction to U.S. Dollar STRENGTH off the UNEMPLOYMENT number. However the Dollar soon gave back all it's upside and was 14 points lower at the Gold close. The Gold has proven it's ability to rebound. At one point early in the session the December Gold market was trading at the $733.00m level. late in the session the market was at the $750.70 level before closing at $747.20.Early profit taking presented the opportunity to re- buy the Gold market in my opinion. HIGH....750.70...LOW...733.00 Close...747.20....It has been very hard to speculate and not be stopped out with these large swings. I am long Bull / Calls again.the following are my swing numbers for TUESDAY October 9Th ...........December Gold................................................
resistance #2.....................762.00
resistance #1.....................755.00
pivot....................744.00
support #1...........................737.50
support #2...........................726.00
TRADE SMART.........TRADE GOLD / OPEN AN ACCOUNT TODAY....888-282-2770
WE TRADE THE WORLD !!!!

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